Off Pmt Fn

Key Off Pmt Fn in Contingent Claim refers to the optional formula that determines the amount that should be paid if the trigger function Trigger Fn evaluates to FALSE during a particular simulation run.
Apart from the fact that the entry here applies on the absence of a triggered event, in all other respects it works just like the equivalent entry On Pmt Fn.
For more details look at the description of the latter.